When the loan was first advised to the market I wrote to ASIC...

When the loan was first advised to the market I wrote to ASIC expressing concern about it being a conflict and saying that Kore had effectively taken over Austpac because of the terms of the loan, without buying a majority of shares. I also said that It seemed to be a breech of Mr Cuthbertson's fiduciary duty to Kore for apparently facilitating a large loan to Austpac given the dire financial situation APG was, and still is, in.

As usual, the regulator did nothing........